Subject: RE: adult stem cell opp
From: "Neil Callahan \(Rosemont Seneca\)" <[email-masked]>
To: "'John DeLoche'" <[email-masked]>
Cc: "'Hunter Biden'" <[email-masked]>, "'Eric Schwerin'" <[email-masked]>, "'Devon Archer'" <[email-masked]>, "'Rob Walker'" <[email-masked]>
Date: Sun, 24 Feb 2013 11:30:23 -0500

Right, good exposure to an interesting space.  Any angle we can propose on
the advisory side?  Super regulated topic - success or failure hinges on
policy and regulation here for sure (i.e., gove research $, insurance
coverage for therapies, permissibility of therapies, IP rights/public good,
etc.)

Neil Callahan

Rosemont Seneca Partners

401 Greenwich Street, Suite 300

New York, New York 10013

917-945-9516 (m)

866-749-8879 (f)

www.rosemontsenecatech.com <http://www.rosemontsenecatech.com/> 

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From: John DeLoche [mailto:[email-masked]] 
Sent: Sunday, February 24, 2013 11:20 AM
To: Neil Callahan
Cc: Hunter Biden; Eric Schwerin; Devon Archer; Rob Walker
Subject: Fwd: adult stem cell opp

Here is the dataroom access. this may be too capital intensive for us. we
need to be respectful to Trent obviously. let's discuss this week. 

---------- Forwarded message ----------
From: Trent Gegax <[email-masked]>
Date: Sat, Feb 23, 2013 at 3:42 PM
Subject: Re: adult stem cell opp
To: John DeLoche <[email-masked]>
Cc: Greg Arrese <[email-masked]>

Sounds good. Here you go. I have permission to pass access to you. Happy
wknd. 

http://stemedica-casestudies.imagebeam.com/docs

username: smuser

password: u891mnb!

 

T. Trent Gegax

917.592.1686

www.gramercyfund.com

@gegax

On Feb 23, 2013, at 5:38 PM, "John DeLoche" <[email-masked]>
wrote:

Hi Trent,

Thanks for thinking of us. I would like to learn more. Is there a slide deck
w financials you could send. Happy to take a look in the data room. 

Best,

John

Sent from my iPad

On Feb 23, 2013, at 2:14 PM, Trent Gegax <[email-masked]>
wrote:

howdy, john. yesterday my father and I had an interesting update call with
one of our life-sciences portfolio cos, san diego-based stemedica
<http://www.stemedica.com/> , in the adult stem cell space. they're
finishing a big 'rolling raise' and are down to their last 7m (we're
considering adding to our position) of their 72m preferred raise (148m
pre-money, 220m post-money).

you came to mind because stemedica feels like it's about at the stage that
counsyl was at when you introduced it to us, tho it's taken stemedica longer
to develop than counsyl (we initially invested in 2007). maybe chalk that up
to being in the controversial stem cell space, maybe not.

any rate, let me know if you want access to their data room and, if further
interested, i'll intro you to stemedica ceo maynard howe, who started two
other life sciences cos that we invested in and that went ipo. my father tom
is friends with maynard and has known the prolific howe family for decades. 

ceo maynard expects stemedica to be cashflow poz q313; their first big
pharma deal to give them a 1b valuation; and midcase valuation in 5 yrs to
be 3b. maynard has invested millions of his own money and plans to return
all of investors money via dividends within two yrs.

ip is stemedica's edge. the short story on the extension of the current
raise is that they had an ip discovery that they decided to button down
rather than use raised funds to ramp sales.

interesting recent developments include aggressive interest from tx gov
perry, a stem cell fan who wants tx to unseat ca as the stem cell capital of
the u.s.; a big addition to the board; and significant jv with leading
public life-sciences firm.

let me know if you'd like to see more.

best,

trent

T. Trent Gegax

www.gramercyfund.com

917.592.1686

@gegax

 

 

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John DeLoche

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